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Tax Construction Residential Real Estate

Read need-to-know updates, commentary, and analysis on Tax issues written by leading professionals.

NSW re-opens its door to foreign developers

by Dentons on

The Berejiklian Government has introduced a Bill into the NSW Parliament which may change the way surcharge purchase duty and surcharge land tax applies to foreign developers....more

Mind the Gap - GST and new residential properties

by Dentons on

The Turnbull Government has released Exposure Draft legislation that proposes to implement the 2017-18 Budget measure of requiring purchasers of newly constructed residential properties or new subdivisions to remit the GST...more

Current Issues for Higher Education Real Estate Lawyers

by Bowditch & Dewey on

Campus Real Estate, Property Management, Tax Credits The 15th Annual Higher Education Real Estate Lawyers conference was held in San Francisco, where attendees listened to and learned from both in-house and outside counsel at...more

Rebuilding After Hurricanes Harvey and Irma: Recovery Through Tax Deductions

by Bowditch & Dewey on

It is estimated that less than 20% of those affected by Hurricane Harvey, and a week later Hurricane Irma, had flood insurance. Home owner’s and renter’s insurance policies exclude damage caused by floods. Those affected...more

Issues, challenges and opportunities in the real estate and housing sector in Côte d’Ivoire

by Dentons on

For many years, population growth, combined with sustained urbanisation, has created enormous needs in all sectors, including the housing sector, in Côte d'Ivoire....more

Transformational Brownfield Projects Eligible for Substantial Tax Incentives Under Recently Enacted Legislation

by Miller Canfield on

Brownfield redevelopment authorities and developers and owners of transformational brownfield redevelopment projects are eligible for substantial tax incentives under legislation signed by Governor Snyder on June 8,...more

‘Affordable New York': The Revival of New York's 421-a Tax Exemption Program

by BakerHostetler on

The expired tax incentive program known as “421-a” has been re-established under new legislation with the recent passage of New York state’s 2018 budget plan. The tax incentive program partially exempts new residential...more

Government turns GST on its head for new property sales

by Dentons on

Proposal: Purchasers to pay GST to the ATO - The Budget measures include a radical plan to shift the responsibility of accounting for GST from property developers to purchasers. Under the proposal, purchasers must remit...more

Lancaster County 2018 Property Reassessment: Evaluating Your Preliminary Notice

by Barley Snyder on

Property owners in Lancaster County likely have received their 2018 Preliminary Property Assessment Notice, which shows the property’s preliminary 2018 reassessed value. While the notice provides answers to frequently asked...more

IRS Announces Disagreement with Ninth Circuit’s Holding on Completed Contract Method of Accounting

by Miles & Stockbridge P.C. on

The IRS recently announced its disagreement with the Ninth Circuit’s ruling that, with respect to planned communities, the 95% test under the completed contract method of accounting applies on a development-wide basis rather...more

New York's 421-a Tax Exemption for New Residential Buildings is Back

by Holland & Knight LLP on

The New York State Legislature has passed and Gov. Andrew Cuomo has signed legislation re-establishing the 421-a Tax Exemption Program after a nearly two-year hiatus. The program, which was first put in place in the early...more

New 421-a Legislation

The recently adopted state budget bill included the long-awaited revisions to the 421-a program. These amendments to the Real Property Law, dubbed the “Affordable New York Housing Program,” provide partial exemptions from...more

Baltimore’s Homeless Youth: The Cost of Eliminating the Low-Income Housing Tax Credit Market

by Miles & Stockbridge P.C. on

The Low-Income Housing Tax Credit (“LIHTC”) is one of the most important resources for creating affordable housing in the United States today. Created by the Tax Reform Act of 1986, the LIHTC program gives State and local...more

Real Estate & Construction Law Update

by Barley Snyder on

Death and Residential Leases: What Landlords Need to Know - A new state law has created a much-needed shift in the state’s landlord/tenant law for residential leases that real estate professionals need to be familiar...more

New North Carolina Sales Tax Provisions for Contracts Related to Real Property

by Nexsen Pruet, PLLC on

This alert is relevant for contractors who perform construction services on real property in the state of North Carolina. In South Carolina, contractors remain subject to the traditional sales or use tax at the time of all...more

Wisconsin Supreme Court Clarifies Required Assessment Methodology for Section 42 Housing

by Foley & Lardner LLP on

Regency West concerned the 2012 and 2013 assessments of a newly constructed 72-unit Section 42 housing development. For 2012 (the first tax year following completion of construction), the city assessed the property at...more

Reaction to Uncertainty in Affordable Housing Industry Brought on by Trump Election

The 2016 Election has created more questions than answers for the affordable housing industry. Very little is known about President-elect Trump's vision for affordable housing. On one hand, Mr. Trump has described himself as...more

West Coast Real Estate Update: November 2016 #3

by Holland & Knight LLP on

Owners, Developers Face Challenges Converting Parking to E-Commerce Delivery Space - Because millennials make up an increasing number of urban residents, owners and developers of apartment and condominium buildings are...more

San Francisco Election Results: Which Real Estate Measures Passed?

by Coblentz Patch Duffy & Bass on

Prior to the November 8 election, we reported on the long list of local propositions on the San Francisco ballot, including a number of measures impacting real estate taxes, land use and governance. The results were of...more

Construction Industry Scheme - taxing our landlords and tenants

by Reed Smith on

The Construction Industry Scheme (‘CIS’) requires contractors to withhold tax from payments to subcontractors in relation to certain construction work. It is easy to assume that CIS only applies to mainstream contractors, but...more

UPDATE: New Fee for Affordable Housing Goes to Denver City Council Sept. 19

A bill proposing a new development impact fee for a permanent affordable housing fund moved on to the Denver City Council Wednesday.Bill No. 625, proposed by Mayor Michael Hancock and Councilmembers Robin Kniech and Albus...more

Proposed Rule Changes to Florida’s Affordable Housing Allocation and Funding Process

by Carlton Fields on

The Florida Housing Finance Corporation (“Florida Housing”) has proposed changes to its rules governing the affordable housing allocation and funding process. The changes are to Rule Chapters 67-21, 67-48, and 67-60, F.A.C....more

Real Estate News in Metro DC

by Ballard Spahr LLP on

Ballard Spahr’s mixed-use, condominium, and multifamily lawyers are pleased to provide this newsletter to keep you apprised of important developments and trends in real estate law in Maryland, Virginia, and Washington, D.C....more

Remission of stamp duty on certain conveyance directions - Licensed housing developers

by Dentons on

Introduction - 1. Where a party (Vendor) enters into an agreement (Main Contract) to transfer any immovable property (Property) to another party (Initial Purchaser), and before having obtained a conveyance of the...more

Emerging Trends in Tax Credit Finance: Expansion of Renewable, Development, Housing Programs

by Stinson Leonard Street on

On December 18, 2015, the landscape improved for individuals and businesses looking to invest in affordable housing, economic development and renewable energy projects. Congress passed and the President signed into law the...more

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